VeriFone to Widen Mobile Money Services in Nigeria

Teasy Mobile has appointed VeriFone Mobile Money, a joint venture between VeriFone and Mobilis Networks Limited, to widen mobile money services in Nigeria.

Under the agreement, VeriFone will deploy its retail enablement solution integrating mobile wallet, banking and telecommunication provider networks with point-of-sales (POS) to drive mobile money.

Teasy will partner with stakeholders in Nigeria to roll out VeriFone contactless POS devices, mobile POS (mPOS) and biometric solutions that allow the use of biometric data for secure user identification and authentication in line with the Central Bank of Nigeria’s (CBN) “Know Your Customer” and financial inclusion policies.

“Working with Teasy Mobile is an exciting opportunity for VeriFone Mobile Money. Nigeria is a rapidly advancing and sophisticated mobile money market, and there are many mobile wallet providers already in the Nigerian market,” Chris Jones, chief executive officer (CEO) of VeriFone Mobile Money, said.

“With Teasy Mobile, VeriFone Mobile Money will be offering a market first in Nigeria delivering Teasy customers frictionless, fast and secure transactions at the agents’ point of sale utilising a combination of biometrics and near field communications (NFC) devices including mobile and card.”

Musa Ali Baba of Teasy said: “We are very excited with the market opportunity this solution will bring us. We believe that, while the market is growing quickly for mobile wallets, we will be able to roll out a mixture of point of sale and mobile wallet technology, thus capturing all points at which the customer will transact.

“VeriFone Mobile Money has provided a very advanced, yet easy-to-use solution to Teasy that will add value to the Nigerian cashless vision and allow for alternative and easier ways to make payments benefitting Nigeria and the industry as a whole, and we are very excited to enter into this partnership.”

Originally Published on Human IPO

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